West Bromwich Building Society Tracker Margins Legal Action

West Bromwich Building Society Tracker Margins Legal Action

18:38 PM, 30th September 2013, About 11 years ago 3869

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West Bromwich Tracker Rate Mortgages Legal Action Group

West Bromwich Building Society Tracker Margins Legal Action

Are you affected by the West Brom Tracker Rate Hike?

If your mortgage account number begins with the number 8 you are highly likely to be one of the unlucky 41% of the mortgage customers of the West Bromwich building Society with a West Bromwich Mortgage Company account affected by the 1.9% increase in your tracker margin rate. However, if you arranged your mortgage directly with West Bromwich Building Society (i.e. not via a broker) or before 2006 the chances are that your account number will begin with the number 9 and you are not affected – YET!!! West Brom will give no assurances that mortgages with account numbers beginning with the number 9 will not be affected at some point in the future.

OUR INTENDED CLASS ACTION LITIGATION OVERVIEW

Tracker Rate Class Actions Updates

The reasons we started this campaign are very simple:-

1) We believe the actions of West Brom are immoral

2) We believe the actions of West Brom are unlawful, i.e. they have no legal grounds to increase their tracker rate margins

3) We have no wish to subsidise other areas of the West Bromwich Building Society business model

4) We are fearful of other lenders following suit if West Brom are allowed to get away with this

Mark Smith (Barrister-At-Law) said …

“Representative actions, where one person starts a case representing many others, who all want the answer to a legal question from a court such as ‘is this contract enforceable against me?’ but are not seeking damages. All those who sign up to the action will get the benefit of the win, but they do not have to start their own cases, as they are ‘represented’ by the lead claimant.

The only people who will definitely benefit from success in the case are those who have signed up. There will be no free rides. Any others will have to fight their own corners individually, either alone or with legal help (which will inevitably cost significantly more than the group case).”

We will NOT settle on any basis.

Landlords take legal action against West Brom Mortgage Company

We have a moral duty to do what is right for those who support the values upon which this campaign was started. Our promise to all who support these values is that we will not sell out on you at any price. We will continue to fight this injustice and we will fight any other lender who tries to follow suit.

Are you with us?

This discussion thread is now closed – we’re off to Court!

To link to the new discussion please CLICK HERE

West Bromwich Mortgage Company Tracker Margins Legal Action


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David Lawrenson

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8:26 AM, 5th February 2014, About 11 years ago

Reply to the comment left by "David Lawrenson" at "05/02/2014 - 08:23":

Still, I think Mark's comment on there being risks WRT the insurance has to prevail here, so despite my joy at costing the Scottish Life a lot of money in my own case, maybe the small claims course of action is best avoided in this case.

Richard Kiru

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8:47 AM, 5th February 2014, About 11 years ago

Not sure if this has been mentioned but WRT WBBS I lodged a claim to the FOS and they said if a class action suit has already commenced then they can not act. I said it had not as yet. Is it worth going down this route at this stage?

Richard Adams

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8:52 AM, 5th February 2014, About 11 years ago

Reply to the comment left by "paul hart" at "05/02/2014 - 07:41":

Re differing verdicts District Judges might come up with it has to be remembered that some DJ's - hence this being modest level they have risen to - are really quite poor so could easily err in their judgement. If one of us jumped in now and got an adverse outcome it would help WB in a small way,

So nice idea but best kicked into long grass.

Mark Alexander - Founder of Property118

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8:57 AM, 5th February 2014, About 11 years ago

Reply to the comment left by "Richard Kiru" at "05/02/2014 - 08:47":

Yes.
.

Steve Cornish

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10:07 AM, 5th February 2014, About 11 years ago

I am sorry if I have missed anything but are we still planning to meet in London on the 27th, I need to plan travel as the services are shocking from the South West would be easier from the moon.........

David Ellis

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10:07 AM, 5th February 2014, About 11 years ago

Reply to the comment left by "Denise D" at "05/02/2014 - 07:29":

Yes Denise we did send a copy to Justin. We spent ages completing the property portfolio form for the WBBs which was a waste of time and effort.

M Jones

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10:19 AM, 5th February 2014, About 11 years ago

I am pleased to say that Annette Brooke MP has now written to Mr Westhoff, the Treasury and the FCA - she understands the issues and is proving to be very proactive.

Paul landlord

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10:23 AM, 5th February 2014, About 11 years ago

Reply to the comment left by "Richard Adams" at "05/02/2014 - 08:52":

Yes Richard thanks, I believe we are all best leaving it to the class action.

Mark Alexander - Founder of Property118

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10:24 AM, 5th February 2014, About 11 years ago

Reply to the comment left by "Steve Cornish" at "05/02/2014 - 10:07":

Hi Steve

Yes we are indeed.

Details of the venue will be published on the secure forum as soon as it goes live.

Hopefully that will be later today or tomorrow as our IT developer is now back to work.

The reason for announcing the venue on the secure forum is to ensure we minimise the risks of gate crashers. Also, I don't know myself yet because Ana at The Law Department has been arranging this and she's not told the location yet either LOL.
.
.

ian

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10:36 AM, 5th February 2014, About 11 years ago

Reply to the comment left by "Mark Alexander" at "05/02/2014 - 10:24":

For extra security you could have photo Id on entry, as Justin has these on file.

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